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FTX Leadership Pressed for Detailed Information by US Subcommittee Chairman

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“FTX’s customers, former employees, and the public deserve answers,” Raja Krishnamoorthi, Chairman of the Subcommittee on Economic and Consumer Policy wrote in a Nov. 18 letter addressed to both former FTX CEO Sam Bankman-Fried and the exchange's current CEO John J. Ray III, who took over in the wake of FTX’s bankruptcy filings.  The former and current FTX bosses were reminded to submit documentation as part of an Aug. 30 request to Bankman-Fried asking for information regarding the steps FTX is taking to combat fraud and scams.  

Krishnamoorthi added the subcommittee was “seeking detailed information on the significant liquidity issues faced by FTX, the company’s abrupt decision to declare bankruptcy, and the potential impact of these actions on customers who used your exchange.” 

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